By Chris Morris
Yahoo Finance
Food prices are already up more than 30% around the world this year, but a rising crisis in the fertilizer industry all but guarantees they’re about to go even higher—and take food prices along for the ride.
Fertilizer plants in Europe have cut back production, and China is cutting exports to focus on its own agricultural industry. Add in shipping problems and inflation, and U.S. farmers are having a hard time getting their hands on the critical supply, much less pay the higher costs for it.